Question
In a move that could better protect the interest of depositors; the government is planning to _______ the deposit insurance cover to more than Rs 2 lakh for individual bank accounts, if a lender ________ or its license is cancelled by the Reserve Bank of India.
Answer: Option C
Answer: (c)The correct answer is C - Increase, CollapsesMeaning: Collapses - Fail suddenly or completelyIn a move that could better protect the interest of depositors; the government is planning to increase the deposit insurance cover to more than Rs 2 lakh for individual bank accounts, if a lender collapses or its license is cancelled by the Reserve Bank of India.
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Answer: (c)The correct answer is C - Increase, CollapsesMeaning: Collapses - Fail suddenly or completelyIn a move that could better protect the interest of depositors; the government is planning to increase the deposit insurance cover to more than Rs 2 lakh for individual bank accounts, if a lender collapses or its license is cancelled by the Reserve Bank of India.
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